$1500 wk on 1099, good pay? I need money bad.

In Virginia you are t required to buy comp insurance as long as you have less than 3 employees.

 

This was in Va. But the owner had zero employees. 2 part time drivers, paid on 1099, classified as independent contractors.

 

Good thing I check this site out, I was attempting to go drive for them, but I heard a lot about ripoff trucking companies from chicago, so decided to do a little research. Thanks for opening my eyes. I'll just go find a regular job my hometown.

 

If you are driving a company owned truck under their supervision you are an employee, but paid as a contractor? ILLEGAL. I would avoid any of those Chicago companies like the plague. It’s well documented on here the abuses those companies commit, they are foreign owned (usually Russians) unsafe, unethical and many are running under false names and DOT numbers. Also DO NOT believe the hype they give you about guaranteed 1500$ a week. There is always a catch.

AVOID!!!
AVOID!!!
AVOID!!!

 

Wait till there are any mechanical failures and they blame him then make him pat for it out of his pay checks.
Probably why the other driver didn't get paid.

 

Where are your Federal and State tax deductions?
City/Municipal/Local tax too for some states.

Gross Pay of $1500 week x 52 weeks = $78,000/yr
Taxes will be about $23,000 (almost $6,000 you need to pay to Uncle Sam quarterly)
Net Annual pay about $55,000
Net Weekly pay $1,058.00 (after you pay Uncle Sam)

Obviously, but worth mentioning, depending on your situation, tax deductions will reduce the amount you owe. But you will still need to pay estimated taxes every 3 months on the amount you were paid.


What is the self-employment tax?
Self-employment tax consists of Social Security and Medicare taxes for individuals who work for themselves. Employees who receive a W-2 only pay half of the total Social Security (6.2%) and Medicare (1.45%) taxes, while their employer is responsible for paying the other half. Self-employed individuals are responsible for paying both portions of the Social Security (12.4%) and Medicare (2.9%) taxes.

Do I have to pay self-employment tax?
If you (1) are self-employed as a sole proprietorship, an independent contractor or freelancer and (2) earn $400 or more, you may need to pay SE tax. This is true even if you are paid in cash and do not receive a 1099-MISC. Keep in mind, you may be able to offset this income if you have qualifying expenses.

 

A Corporation is completely different than being 1099 independent contractor.

 

I think Express12 has made up his mind about this issue, and no amount of facts will change his mind... he is willing to take the risk of being paid more by an employer via a 1099 basis. He may get lucky and do alright for a year or two....only time will tell. He won’t be the first guy to try it....and he won’t be the last.

 

My trucking friend, I decided to take a job with 1099 company call nation wide transport. They gurantee pays me very good, better than any those giant corps. And they promise me to run me where wana runs, they pays for layover , detention, start me out at .45 a mile. Cant do wrong, I'm doing drug test to moro, and get into a brand new vols, that's what I want.